WASHINGTON (NEXSTAR) – The fight to ban members of Congress from trading stocks is popular with both parties, but it still hasn’t passed. Some lawmakers are hopeful it finally will soon.
Congressman Abigail Spanberger has been at the forefront of the fight to ban lawmakers from trading stocks. She’s been pushing a bill to do that for several months.
“Members of congress should not be able to buy and sell individual stocks, full stop,” Spanberger said.
She says the private intel and congressional briefings lawmakers get give them the ability to influence the market and make personal profits.
“We shouldn’t be able to make investments based on information that we have. And most importantly the American people should never worry that when we leave such a briefing we’re going out and calling stockbrokers,” Spanberger said.
She believes Speaker Nancy Pelosi’s lack of support has stopped the bill from getting a vote. Speaker Pelosi on the other hand, says the legislation just isn’t ready.
“Whatever the committee recommends I support. Among the people who have been advocating, they have some disagreements,” Pelosi said.
Finding time to pass the bill is also a challenge, as lawmakers juggle a long to-do list before the end of the session.
“I hope that we can get it done this year. Time is very limited as you know, but if not I actually think it’s something we can get done in the next session as well,” Congresswoman Pramila Jayapal said.
Congresswoman Pramila Jayapal points out that members from both parties support the effort.
Republican Congressman Chip Roy is a co-sponsor of Spanberger’s bill.
“What I know is that there’s a number of us who are committed to continue to have that discussion and make that a priority,” Roy said.
No matter when it happens or who is in charge advocates have their eyes on the end game.
“The goal is to get this signed into law,” Spanberger said.